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Why Shutterstock Inc Shares Popped Today

TheMotleyFool

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Why Shutterstock Inc Shares Popped TodayPhoto, wide shot, wide-angle lens, soft focus, IT consulting firm, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-uhXP0RHYYxDepjmHeSp1K8bF.png?st=2023-05-07T15%3A26%3A44Z&se=2023-05-07T17%3A26%3A44Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-05-07T16%3A18%3A55Z&ske=2023-05-08T16%3A18%3A55Z&sks=b&skv=2021-08-06&sig=4pcJOd8aEI1799liUV13F4ElqO7e4RZy8sa1PEeeNZA%3D

Why Shutterstock Inc Shares Popped Today

Shares of Shutterstock Inc (NYSE: SSTK) were surging today after the digital-image specialist turned in a better-than-expected third-quarter earnings report. The stock was up 11.8% as of 11:42 a.m. EDT.

Revenue increased 15% in the period to $141.1 million, which easily beat estimates at $133.1 million. Meanwhile, on the bottom line adjusted earnings per share slipped, as expected, from $0.40 to $0.31, but that still topped expectations of $0.27.

Image source: Getty Images.

Source: Fool.com